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recommend book⇒The Body Economic: Why Austerity Kills, recessions budget battles and the politics of life and death | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| by | David Stuckler, Sanjay Basu | 978-1-4434-2045-7 | paperback | |||||||||||||||||||||||||||||||||||||||||||||||||||||
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| publisher | Basic Books | 978-0-465-06398-7 | hardcover | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| published | 2013-05-21 | B00B3M3W4A | kindle | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| The original Keynesian idea was governments should borrow and spend to stimulate the economy in a recession and tax and pay back debt in good times. This has been replaced replaced with an emotional Republican ideology that calls for austerity in tough times and stimulating the economy to the boiling point in good times because there is money available to do it. The authors study what actually happened in various countries with differing policies. They discovered, for example, TB prevention austerity, far from saving money, ended up costing orders of magnitude more fighting the ensuring epidemic in New York city. The problem is economics is mainly controlled by ideology instead of even the most basic economic science. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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